National Life launches a new web based sales capability for MGAs and broker business partners

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TORONTO, May 6, 2002 – National Life MGA and broker business partners can now obtain a
personalized website as a tool to help them sell life insurance and retirement products. Developed with the end
client in mind each website is a fully operational sales tool which will allow clients to
run their own personalized wealth management projections, calculate how much insurance
they need, determine which wealth management strategy is best suited to their needs,
evaluate their current investment portfolio and more.

“National Life has developed one of the most
innovative electronic support initiatives ever offered to life insurance and wealth
management partners anywhere” said Vince Tonna, President and COO of National Life.
“This is a cost-effective, virtually maintenance free opportunity that puts
technology into the hands of our business partners to help them educate, service and sell
to their clients.”

National Life web design and programming resources are
available to its business partners and will work with them to set up fully operative,
turnkey websites. Each website features a customized look, branding and contact
information for each business partner. On an ongoing basis National Life will provide
hosting, maintenance and updating services as well as content enhancements on the business partner’s behalf.

“Clients, should they choose to do so, may actually
buy Universal Life through the business partner’s own site,” said Mr. Tonna. “To
the best of our knowledge, this on-line capability is not available anywhere else in the
Canadian marketplace.”

With this sales method, clients still get the same level of
product performance as with National Life’s off-line Flex Account Universal Life product,
and business partners receive full compensation. By creating an electronic marketing
channel that includes our business partners, National Life remains committed to supporting
independent MGAs and brokers, offering them a flexible sales tool that delivers both
service and convenience to clients. Business partners who provide their clients with
access to web based financial service offerings will also benefit from increased client
management options and will gain a competitive edge with the added ability to provide more
choices, on-line, for their clients’ financial planning needs.

A demonstration website may be viewed at

National Life has been a strong performer
in the insurance and financial industry for over a century, with a reputation for service
excellence and product innovation. Providing individual insurance, group life and health
insurance, and retirement and investment products across Canada and in parts of the
Caribbean, National Life is a trusted name in the financial industry.

Working in partnership with the industry’s top independent
producers, National Life’s network of expert resources provides long-term wealth
management solutions to clients. The company was rated A (Excellent) by the A.M. Best
Company, the oldest insurance rating agency in the world and has been recognized as one of
“Canada’s Top 100 Employers” for the past two years by MediaCorp. National Life
is a member of the Industrial Alliance Group of Companies, which ranks seventh among
Canadian life insurers, with over $15.1 billion in assets under management and under administration.